The world of cryptocurrency continues to expand, but so do the risks. A report recently published by Chainalysis found that cryptocurrency scams took at least $9.9 billion in 2024, with projections suggesting that the final figure may reach $12.4 billion. This alarming rise in fraudulent activity is being driven in part by the increasing use of generative AI, which allows scammers to operate with greater sophistication and efficiency.
AI has rapidly changed many industries, and unfortunately, scammers are taking advantage of its capabilities. With the help of generative AI, fraudsters can create convincing fake identities, automate deceptive conversations, and scale their operations faster than ever before. AI-powered chatbots and…
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